BEIJING (DTN) -- China will end its controversial soybean purchase program and replace it with a direct, target-price subsidy starting with the 2014 crop, China's central government said in its latest agriculture policy document.

Under the old program, China would buy a farmers' entire soybean crop at a fixed floor price in an effort to protect Northeast China farmers' profits.

Under the new policy, the government will start a "target price direct subsidy," which will subsidize farmers directly when the market price is lower than the target price. Instead of selling to the government, farmers will sell their beans in ...

Quick View

Dr. Dan Talks Agronomy
Can you trim inputs while growing soybeans in 2015? Here's a look at what you can and can't cut.